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Old 03-15-2012, 12:20 PM
 
Location: Los Altos Hills, CA
36,667 posts, read 67,622,805 times
Reputation: 21258

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Quote:
Originally Posted by dmode View Post
Seriously, someone posted an article from breitbart to prove his point?

Also, get yourself a life and stop tracking monthly fluctuations in state revenue. It depends upon a number of factors. I bet you didn't post the articles when the revenues were 6% above plan.
EXACTLY.

Im constantly accused of wearing rose-colored glasses which I'll own up to, sure.

But what about the perptually menstruating folks on the other side of the spectrum? Would be nice if they could just own that they have an anti-CA agenda and be done with it.
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Old 03-15-2012, 12:24 PM
 
457 posts, read 757,510 times
Reputation: 498
Also, here's an objective source of November 2011 revenues beating projections by 9%

http://www.sco.ca.gov/Files-EO/12-11summary.pdf

And here's the actual press release for February

California State Controller's Office : Press Releases

The revenues are down 3.2% from plan due to " That shortfall was likely caused by a large increase in early tax refunds going out during the month of February. "


Last edited by dmode; 03-15-2012 at 12:38 PM..
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Old 03-15-2012, 12:27 PM
 
457 posts, read 757,510 times
Reputation: 498
More interesting information:

http://www.sco.ca.gov/Files-ARD/CASH/fy1112_feb.pdf

If you guys can read a financial statement - for FY 12 (from July to Feb) revenues are trailing plan by 1%. Oh man, what a disaster.
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Old 03-15-2012, 12:41 PM
 
Location: Conejo Valley, CA
12,460 posts, read 20,110,527 times
Reputation: 4366
Quote:
Originally Posted by dmode View Post
If you guys can read a financial statement - for FY 12 (from July to Feb) revenues are trailing plan by 1%. Oh man, what a disaster.
If they could do such things, would they be making the claims in the first place?

I don't know, either these sorts simply don't understand basic financial, tax, etc issues or they are pushing some sort of agenda. Not sure which...
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Old 03-15-2012, 04:47 PM
 
Location: Santa Monica, CA
1,626 posts, read 4,018,355 times
Reputation: 742
Quote:
Originally Posted by dmode View Post
More interesting information:

http://www.sco.ca.gov/Files-ARD/CASH/fy1112_feb.pdf

If you guys can read a financial statement - for FY 12 (from July to Feb) revenues are trailing plan by 1%. Oh man, what a disaster.
Total tax revenues were still down $1.2B versus Feb. 2011. So were the dramatically lower revenues a result of the "temporary" tax increases that expired last July? That would seem to be the most logical explanation since the governor was projecting $1B less in tax revenues for Feb in his budget. If so, the Breitbart article is disingenuous and hypocritical since conservatives claim to love tax cuts.
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Old 03-15-2012, 05:27 PM
 
Location: Living on the Coast in Oxnard CA
16,289 posts, read 32,380,735 times
Reputation: 21892
Quote:
Originally Posted by SportyandMisty View Post
Once Facebook goes public, it is estimated that Mark Zuckerberg's personal federal tax liability will be between $2.0 Billion and $2.5 Billion. You can estimate California's take pretty easily.
His wealth is not from income but investments in the company. The tax rate for investments is 15%, much lower than income tax.
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